Analysts Set New Gold Inc. (TSE:NGD) PT at C$3.61

New Gold Inc. (TSE:NGD) (ARCA:NGD) has been given a consensus rating of “Buy” by the eight analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$3.71.

Several equities research analysts have recently weighed in on NGD shares. National Bankshares upped their target price on New Gold from C$4.00 to C$4.25 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. TD Securities upgraded New Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 21st. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. Scotiabank upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Finally, National Bank Financial raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th.

Insider Activity

In other New Gold news, Senior Officer Sean William Keating sold 50,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of C$3.63, for a total transaction of C$181,500.00. Company insiders own 4.92% of the company’s stock.

New Gold Stock Performance

TSE:NGD opened at C$3.58 on Friday. New Gold has a twelve month low of C$1.17 and a twelve month high of C$3.70. The firm has a market capitalization of C$2.83 billion, a price-to-earnings ratio of -89.50, a PEG ratio of -3.02 and a beta of 1.57. The company has a current ratio of 1.50, a quick ratio of 1.64 and a debt-to-equity ratio of 52.45. The firm’s fifty day simple moving average is C$3.04 and its 200 day simple moving average is C$2.56.

About New Gold

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.